It has been nearly two years since the DeFi sector exploded, and it is still developing and growing as strongly as it ever did. However, some issues surrounding it still persist, such as difficulty for newcomers to the DeFi sector to find their way around.
This is why YouHodler emerged, to provide DeFi users with the ability to easily get into the sector and earn interest on their capital through farming, staking, and similar processes that are user-friendly and affordable.
The platform recently added multiple new coins to its website, including Avalanche (AVAX), Filecoin (FIL), Cosmos (ATOM), Elrond (EGLD), 1inch Network (1INCH), NEAR Protocol (NEAR), PancakeSwap (CAKE), and BitTorrent (BTT). Furthermore, YouHodler also decided to start paying greater interest for two more cryptos — Zilliqa (ZIL) and FTX Token (FTT) — becoming the world’s first platform to pay up to 5.5% interest on them.
The project has ensured to select only the tokens that are trusted by the crypto community, and that they are present in the CoinMarketCap’s Top 100 largest cryptocurrencies by market cap. Other than the newly-added cryptos, YouHodler also pays interest on a number of other digital currencies, such as BTC, ETH, XRP, USDC, USDT, BNB, XLM, TUSD, HUSD, PAX, and HT.
YouHodler platform is extremely secure, as it uses security practices and custody solutions created by some of the biggest names in crypto security — Fireblocks and Ledger Vault.
What else does YouHodler have to offer?
Apart from seeking to offer an easy way into DeFi, YouHodler also seeks to provide a variety of ways to profit from various digital assets that it has on offer. However, it has a special focus on crypto savings accounts. After users deposit their funds into the crypto savings account, they start receiving payments every week.
The payments arrive at the end of each week, with the earned amount being deposited directly into the users’ accounts. It is also worth noting that YouHodler provides an estimation of how much users can earn for different time periods, up to 12 months. That way, users can know exactly what to expect, how to prepare, how much money they need to place into their savings account in order to achieve a specific goal, and alike.
Ilya Volkov, who founded the company, and is currently acting as its CEO, commented on the state of DeFi, noting that it offers users the ability to earn interest by engaging in lending, staking, farming, and similar activities available throughout the sector.
However, he believes that the process is overly-challenging and not user-friendly enough for newcomers to intuitively know what to do and how to use it to their advantage.
In addition to that, there are also other flaws and limitations, such as the fact that users often have to lock a lot more than what they are willing to. Often, that can mean having to lock up to 2 times more funds than what some want or can afford to do since they need both the token and USDT.
Unlocking the true potential of crypto and DeFi
Volkov further noted that there is a lot of demand for these specific projects, which is why the platform decided to list them. They all have growing communities, and as a CeDeFi platform, YouHodler aims to remove such a burden from its users and allow them to benefit from this emerging economy.
YouHodler aims to use its platform to simplify engaging with DeFi, but also to bring it even closer to the public than ever before. Crypto experts have been pointing out for years that crypto usage needs to be as simple as sending an email in order for it to reach mass adoption. The situation is not much different when it comes to DeFi activities. In other words, users need to be able to benefit from crypto in more ways than just using them in trading or spending them.
YouHodler offers support for all types of cryptocurrencies, including stablecoins. However, it also supports fiat. And the list of activities that can be done on the platform continues to grow. So, whether it is staking, farming, trading, lending & borrowing, or more, the platform has it, and it will let you use it.
